Yesterday the share price of MAM Software Group, Inc. (OTC:MAMS) bounced above the 200-day and crossed the 50-day moving averages. That was the third intensive session after the company’s announcement from Tuesday, yet it could not end up the sideways activity of the stock price. 
MAMS closed the market yesterday at $1.77 for a share with a 1.72% increase from the previous close. The trading volume was higher than on Wednesday and was about twice the average for the past three months, or slightly over 34,400 traded shares for the day. Although MAMS share price has increased significantly in the past three days, it still trades within a channel and gives no signals for a breakout.
On Tuesday this week, the company announced that the Autopart software of its subsidiary MAM Software Inc. has been selected by the wholesale automotive parts distributor Eastern Warehouse Distributors Inc. as its next generation business system. Given the comparatively low number of shares that MAMS traded on that news, it looks like it is not the major event that would change dramatically the company’s results.
The latest 10-Q also does not suggest there is fundamental base for a higher value for the stock of MAM Software Group. In the quarter ended September 2011 revenues have declined compared to the same quarter last year, while the company reports also a substantially lower but still positive operational income of $874,000. Market cap is at $25.3 million, while the value of stockholders’ equity is $12.2 million, which is still acceptable for the industry.
